Comments on: Company Is Going Bankrupt. What About My Pension? http://www.goodfinancialcents.com/company-is-going-bankrupt-what-about-my-pension/?utm_source=rss&utm_medium=rss&utm_campaign=company-is-going-bankrupt-what-about-my-pension Helping You Make Cents Of Investing and Financial Planning Thu, 23 May 2013 20:45:05 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Jeff Rose http://www.goodfinancialcents.com/company-is-going-bankrupt-what-about-my-pension/comment-page-1/#comment-24462 Jeff Rose Tue, 13 Nov 2012 22:28:08 +0000 http://www.goodfinancialcents.com/?p=4839#comment-24462 @ Mike No, you would not lose it all. That’s what the PBGC is for. Here’s some info on their site that might be able to help you. http://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee.html

]]> By: Mike Pyle http://www.goodfinancialcents.com/company-is-going-bankrupt-what-about-my-pension/comment-page-1/#comment-24016 Mike Pyle Thu, 18 Oct 2012 16:12:11 +0000 http://www.goodfinancialcents.com/?p=4839#comment-24016 I worked for Sears for over 18 years and left the company in 1994. I am vested in a pension plan that is fully funded by Sears. I did not contribute any money to this plan. I do not turn 65 until the year 2023. I was recently notified from Sears that they are offering a lump sum payout on the pension plan or I can roll over into an IRA or my current employers 401(k) plan. Another option is to leave this where it is and receive the monthly payments when I retire. What if Sears fails as a company and goes out of business? Do I lose it all or any? Thank you.

]]> By: Jeff Rose http://www.goodfinancialcents.com/company-is-going-bankrupt-what-about-my-pension/comment-page-1/#comment-20910 Jeff Rose Thu, 03 May 2012 05:43:12 +0000 http://www.goodfinancialcents.com/?p=4839#comment-20910 Yes, you should request a 401k rollover immediately, especially if your company is going bankrupt.

It should still be protected, but I would feel much more comfortable getting the money into my hands by rolling it over into an IRA.

]]> By: Yvette Flores http://www.goodfinancialcents.com/company-is-going-bankrupt-what-about-my-pension/comment-page-1/#comment-20907 Yvette Flores Wed, 02 May 2012 17:23:11 +0000 http://www.goodfinancialcents.com/?p=4839#comment-20907 Question… If you worked for a law firm for 25+ years and you resigned… however you left your 401k/Firm pension vested in the firm…Now the firm may file bankruptcy… what happens with your firms… can I go and request
that my funds be rolled over to an IRA fund?

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